The Economic History Of Chinese Marxist Communism Essay

918 Words Dec 7th, 2015 4 Pages
The economic history of Chinese Marxist Communism is a little bit different that of the Soviet Union. Under the rule of Chinese Revolutionary leader, Mao Zedong, the Chinese created a policy of openly opposing capitalism. This contrasted with the Soviet position, under Nikita Khrushchev, which was that Marxist Communism should co-exist with capitalism. The Chinese fought the United States and other capitalist nations in the Korean War and decided to reject relations with the United States. This was until the warming of relations between the United States and China during the 1970s and the death of Mao Zedong in 1976. Eventually, in 1979 China decided to reform its economy and become more open to global trade. The Soviets meanwhile decided to stay inside their sphere of influence and eventually collapse. While other Marxist countries surrendered to capitalism; China became stronger. China’s economy has grown over forty-eight times larger since 1980. In comparison the United States’ has grown less than six times larger in that timeframe. For China, trade is a huge vehicle for growth. Over twenty percent of the Chinese economy comes the exporting of goods and most of that trade is with capitalist countries. China has also done what the Soviet Union refused to do and negotiated free trade agreements. Today, China is in the process of negotiating free trade agreements with U.S allies and capitalist countries, South Korea and Australia. Maybe the Soviet idea of Marxism was wrong…

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